Menu accueil pays

Botswana Stock Exchange (BSE) says it is fitting into the government’s economic diversification plans by developing the capital market as the corner stone of change. Chief Executive Officer, Hiran Mendis, in an interview with Sunday Standard pointed out that a country like Botswana where there are importing their savings, the capital market can have value created in Botswana from the savings being exported and add value locally. Mendis observed that advantages for both Botswana and BSE are the favourable foreign investment climate with no exchange controls and competitive tax rate of 25 per cent. He also noted that Botswana has a stable political environment with multi party democracy and also bodes well for sustainability in investor confidence and foreign portfolio...

While the alcohol industry has been dealt a heavy blow by restrictive legislation, gaming remains a lucrative business for casino operators in the country, according to financial statistics from the industry. The 2012 Casino Control Board annual report shows that the local gambling industry generated more than P200 million during the period under review.The report says the gaming revenues accumulated over this period amount to P208 million but show a marginal decline of four percent as compared to the 2010/11 period.According to the report, Grand Palm took a leading position in terms of gaming revenue earned ahead of Gaborone Sun Casino while Marang Casino of Francistown continued to maintain its third position and Menateng Casino of Selebi-Phikwe was fourth while...

Discovery Metals Limited (DML), the Australian-Botswana listed outfit said this week that it outsmarted itself in the recovery of silver at its operations in the northern parts of Botswana in June this year. “Average metallurgical recoveries of 87.4 percent of copper and 84 percent of silver were achieved for the month. “Overall copper recovery is in line with expectations and silver recovery continues to outperform the original estimates,” the company said in a statement. DML is operating Boseto project in the north-western part of the country—about 80 kilometers outside Maun—and concession area of 10,000 km2. Boseto is composed of Zeta and Plutus Open pits and both managed to move three million tonnes of ore. The area was previous explored by...

Botswana could in future be forced to declare the purposes of money transfers and deposits by their banks. The just ended conference on anti-money laundering held in South Africa resolved that as one of the many ways to enforce anti-money laundering, countries and banks should make it mandatory for people to declare purposes of money transfers and deposits. If it were found that the money was used for something else, the depositor would face prosecution for money laundering. After returning from a week long conference organised by the Egmont Group of Financial Intelligence Units, local MP, Robert Masitara, also a member of the Global Organisation for Parliamentarians Against Corruption (GOPAC) and member of Global Task Force (GTF) on Anti-Money Laundering,...

Permanent Secretary in the Ministry of Agriculture has told Southern District council that the revised Cattle Slaughter and Export Levy has been increased from P2 per cow to P30 to cushion costs incurred during livestock disease outbreaks. Dr Micus Chimbombi said when addressing full council in Kanye recently, that the levy which is charged on every cow slaughtered for commercial and export purposes. In addition Dr Chimbombi said the increment of the levy by P28 during review and the fact that an account which attracts interest has been opened meant the ministry had to widen its net in terms of the assistance extended to farmers through it. On other issues, Dr Chimbombi expressed disappointment at the attitude displayed by majority...

VENTURES AFRICA – Ideas rule the world and in this age, innovation is key. Businesses thrive on Eureka! moments, as innovation has become the benchmark for excellence. For most businesses/entrepreneurs the effective application of ideas determines whether a startup progresses to a multi-billion dollar company, a la Google, Facebook, Apple, or goes bust! African entrepreneurs have also tapped into the endless stream of Eureka! moments and have turned ideas to million-dollar businesses - ask iROKOtv, Justin Stanford or Kamal Budhabatti to name a few. On Africa’s Most Innovative Companies today, we feature Rasello, a company which helps you “manage, understand and communicate better to the people that matter most to your business.” There is no major reason behind the name...

The President Lt Gen Seretse Khama Ian Khama donated 200 blankets, 200 shirts and 71 coats to elders of Matapana ward in Maun on July 11. The President, who was in Maun for the Botswana Democratic Party’s (BDP) National Congress, also interacted with village elders at the kgotla and shared a meal with them. He was accompanied by some cabinet ministers to the event which was also graced by the Acting Paramount Chief of Batawana, Kgosi Kealetile Moremi. President Khama noted that it was his first visit to Matapana ward kgotla and assured elders he would be coming back soon to spend time with them. The President also said his interactions with ordinary Batswana would continue as it gave him...

As the government attempts to create a sustainable economy propelled by private sector, prospective farmers on the other hand decry high level of prices for the supplement feeds. The challenging situation played itself out at the just ended Ghanzi Agriculture Show as the region’s farmers complained of sky-rocketing prices with the likelihood to hamper the government efforts and livestock industry. “Prices for animal feeds are killing us, particularly during winter and drought seasons,” said France Kanguaiko. Normally, feeding his cattle and goats from the open veldt, Kanguaiko has since improvised to mitigate explosive prices. And so are the rest of the farmers who participated at the Show. He added: “We feed them with supplements only when preparing for these activities.”...

The good number of females who have embraced government's poverty eradication initiatives in the Southern District is a step in the right direction, says Mr Mosele Ramakapu. Mr Ramakapu, a chief technical assistant with the Ministry of Agriculture in Kanye, said out of the 88 youths assisted under the programme since 2011, 61 were females up to 40 years; which was a complete contrast to men within the same age bracket. He noted that although the development could be due to a number of reasons among them, the fact that more females were hard hit by poverty than their males’ counterparts or the fact that numerically females dominate males, the feat could only mean poverty levels would be reduced across...

Foreign Direct Investment inflows to Botswana dropped 29 percent to US$293 million (P2.5 billion) last year, resonating with declines to other southern African states as global investment slowed. Estimates released last week by the United Nations Conference on Trade and Development (UNCTAD) also indicate that of the total FDI inflows to the local economy, US$148 million (P1.3 billion) were to greenfield investments. The balance is attributable to merger and acquisition activities as well as expansions.Botswana's estimated FDI inflows were classified as being in the middle of a group of developing landlocked countries which were topped by Kazakhstan. The Central Asia state attracted US$14.1 billion (P121 billion) in FDI inflows last year mainly to its oil and gas industry. The landlocked...

A wave of fraudulent cash withdrawals from personal bank accounts hit Gaborone this past weekend with over 50 cases recorded at one commercial bank since Saturday. According to police, massive reports of mysterious withdrawals involving amounts ranging from P2,000 to P25,000 have been streaming in. All the funds were withdrawn from ATMS in South Africa. Police suspect that fraudsters could have skimmed debit cards locally and crossed the border to access the funds. "Since Saturday, we have received about 50 cases all from Barclays bank. The funds were withdrawn from South African ATMs. Investigations are still ongoing but we suspect it to be a case of debit card skimming," said Assistant Superintendent Keoagile Tau on Wednesday.Although by Wednesday police said...

Botswana Democratic Party (BDP) executive secretary Lee Lesetedi has said everything is in place for the party congress slated for today. Speaking in Maun this week, Lesetedi said all the preparations have been concluded. He said they expect more than 1,200 delegates to attend the congress, which will be officially opened by President Ian Khama this morning. He said they will host 22 visitors from nine SADC countries and more than 5,000 BDP followers. "More of our members who are not delegates have shown interest to travel here for the congress. Remember that this is a tourism village, so some of our members want to use the opportunity to come and see Maun," Lesetedi explained. The congress will be held...

Kgalagadi District will have a smallstock abattoir in the near future, says the district council chairman, Mr Frans van der Weshuizen. Mr van der Weshuizen informed the district full council meeting on July 3, that details pertaining to construction and specific location of the abattoir were still sketchy. He stated that while negotiations were still on, it still their responsibility as councillors to facilitate fast tracking of the implementation of the project. The decision came after farmers complained bitterly about lack of market for their smallstock produce which they argued was their only means of survival. In many forums, farmers said crop production in the area was not a panacea to their problems. Some even suggested that government should devise...

A day before the Botswana Democratic Party (BDP) holds its crucial elective congress in Maun, President Ian Khama announced today that he intends to keep former Vice President Mompati Merafhe and vice president Ponatshego Kedikilwe as additional members in the central committee. Khama said he needs the two in the central committee because the party needs to utilise their experience as they prepare for the 2014 general elections. Later the President critisised the media and opposition parties saying there are unpatriotic. Khama who was officially opening the 35th BDP congress in Maun is of the view that his party’s 47-year uninterrupted rule is based on sound ideals and values of democracy with the rule of law and respect for human...

LONDON — A new satellite system was launched into orbit last week that aims to bring high-speed Internet to remote communities across the globe. Its backers say it could have a big impact in rural parts of Africa by speeding up economic and social development. Others argue the huge amounts of money, however, should be spent on more basic needs. Lift-off for the O3b - or "Other 3 Billion" - satellite system occurred last week in French Guiana. The system goes "live" later this year when eight satellites will enter a lower orbit to provide a faster connection. Its backers include Google and the Development Bank of Southern Africa, among others. Founder Greg Wyler said the "Other 3 Billion" are...

Insurance companies have to constantly develop and retain skilled staff in order to be competitive in the globalised world. Speaking at the beginning of SADC Insurance Forum (SIF) in Gaborone on June 3, the organisation’s chairman, Mr Albert Nduna said the region had experienced flight of insurance skills as people sought greener pastures, hence there was need to nurture, develop and replenish the skill base continually. Mr Nduna said there was potential for the development of the insurance market in SADC as most countries had been registering economic growth rates of above five per cent in the last few years driven mainly by resource exploration. “Insurance plays a critical role in the development of the regional economy by not only...

Many Batswana do not plan for retirement early and wait for the last minute when it is a little too late to plan for life after work. The former Botswana Police Service Commissioner Thebeyame Tsimako has observed this and cautioned Batswana against “living one cheque away from poverty”. In a conference organized by Trainsol Pty (Ltd) to train personal assistants and secretaries from different companies and government departments yesterday, Tsimako said that many people die poor yet they had good paying jobs in their youth. He said the importance of investment is often overlooked at times when workers are still comfortable in their salaries. Trainsol had invited Tsimako who has since retired from public service to share with participants, the...

Mushikiwabo was speaking yesterday in Kigali as a panelist at a national symposium that featured discussions about 50 years of Africa’s independence, Rwanda’s 19 years since the Liberation War, and the role of Africa’s unity in the economic development of the continent. Mushikiwabo said that Africans will have to end rampant corruption, insecurity, and reliance on too much of foreign intervention if they are to record better achievements in their freedom and economic status. “Colonialism has hampered our ability to think for ourselves,” the minister said as she highlighted some of the reasons behind the continent’s ills. She encouraged all Africans to strive to tell their own story if they are to succeed in developing themselves because the current situation...

The Botswana DCI gained 0.8% to close at 8,688.3 on the back of 12 gainers and 2 decliners. Market turnover was BWP 77.8m (+13.7%). Activity was boosted by a single block trade of 15.1m FSG shares valued at BWP 27.3m. Letshego was also amongst the actively traded counters with 1.1m shares valued at BWP 4.0m changing hands. FSG (+12.5%, BWP 1.80) was the top gainer whilst G4S (-5.0%, BWP 4.75) emerged the top decliner. Firestone Diamonds has no plans to open its BK11 diamond mine despite forecasts that prices for the commodity will increase considerably by 2020. The mine was closed approximately two years ago with management citing poor market prices as the main reason for the closure. B. Barclays...

Government has found an alternative market for Botswana cattle and necessary procedures are being followed before farmers can start selling cattle outside. Assistant Minister for Presidential Affairs and Public Administration, Dr Gloria Somolekae announced this during kgotla meetings she addressed in Toteng and Sehithwa villages in Ngamiland on June 28. Dr Somolekae said government was aware of some people who had not sold their cattle for the past seven years, therefore everything possible was being done to make sure that the situation could be addressed. She said the Minister of Agriculture, Mr Christian De Graaf had been visiting countries such as Angola and Zimbabwe looking for a suitable market for the country’s cattle. However, she said certain procedures had to...